FXStreet — Both the Erosion of the threshold of 1,247 USD (smoothing the line of the Bollinger bands in the daily chart), as well as the quantitative indicators in the daily chart is encouraging, said Micaella Feldstein, a market analyst at the French investment Bank Natixis.
The risks of a renewed downward momentum to support the brand of 1.217 USD (Parabolic) are in decline and therefore we expect a strong upward impulse to the resistance at 1.283 (upper Bollinger Band and downward trend-line).
A leap over this barrier would be necessary to extend the relaxation in the direction of 1,317 USD (upward trend line), and 1.340/1.353 USD (Parabolic in the monthly chart) to think.
Supports lie at 1.243/1.247 $ 1.233/1.238 $ 1.217/1.224 USD and 1.190/1.200 USD.
** FXStreet News Editorial, FXStreet**
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